CommVault Systems (NASDAQ:CVLT) Rating Lowered to Hold at Wall Street Zen

CommVault Systems (NASDAQ:CVLT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

CVLT has been the topic of several other reports. Loop Capital initiated coverage on shares of CommVault Systems in a research report on Tuesday, March 24th. They set a “buy” rating and a $125.00 target price on the stock. Stephens reduced their price target on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Piper Sandler decreased their price target on CommVault Systems from $186.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Zacks Research upgraded CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Oppenheimer dropped their price objective on CommVault Systems from $180.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and an average target price of $141.38.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $76.08 on Friday. CommVault Systems has a 1 year low of $76.06 and a 1 year high of $200.68. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a fifty day moving average price of $89.33 and a two-hundred day moving average price of $125.82. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 39.22 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. The company had revenue of $313.83 million for the quarter, compared to analyst estimates of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. As a group, sell-side analysts anticipate that CommVault Systems will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In other CommVault Systems news, CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the sale, the chief executive officer owned 332,529 shares of the company’s stock, valued at $26,632,247.61. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Merrill sold 1,892 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $91.28, for a total transaction of $172,701.76. Following the completion of the sale, the insider owned 62,833 shares in the company, valued at $5,735,396.24. This represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,355 shares of company stock worth $2,613,165 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On CommVault Systems

Several hedge funds have recently bought and sold shares of the stock. State of Wyoming acquired a new position in shares of CommVault Systems in the second quarter worth $35,000. FNY Investment Advisers LLC acquired a new stake in shares of CommVault Systems during the fourth quarter valued at $36,000. Banque Cantonale Vaudoise purchased a new stake in CommVault Systems during the 3rd quarter worth about $39,000. Assetmark Inc. raised its stake in CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock valued at $41,000 after purchasing an additional 82 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in CommVault Systems by 43.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.